Escrow Accounting
/ˈɛskroʊ əˈkaʊntɪŋ/
Definitions
- (n.) The process of managing and recording funds or assets held in escrow until contractual conditions are fulfilled.
Escrow accounting ensures that the buyer's deposit is held securely until the sale closes.
Forms
- escrow accounting
Related terms
See also
Commentary
Escrow accounting involves detailed recordkeeping and adherence to fiduciary duties to protect parties' interests during conditional transactions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.